The Oil Glut And An Inevtiable Oil Price Rebound

The world is awash in oil, I’m hearing. The problem is, it’s fairly expensive oil.

Take for example Canada. The country that has managed to increase its production of oil by a million barrels a day over the last decade. But almost all of that increase has come from oil sands. If you consider only conventional crude oil, Canadian production today would be a third of a million barrels a day lower than at its peak in 1973.